Gas prices hold steady

Gas prices hold steady

Monday, February 5, 2024–10:00 a.m.

-AAA South-

Georgia gas prices held steady last week.

Georgia drivers are paying an average price of $3.02 per gallon for regular unleaded gasoline the same as a week ago.

The average is five cents more than a month ago, but 33 cents less than this time last year.

It now costs an average of $45.30 to fill a 15-gallon tank of regular gasoline. Georgians are now paying almost $5.00 less to fill up at the pump compared to a year ago.

“Georgia gas prices saw minimal or no change at the pumps across the state,” said Montrae Waiters, AAA-The Auto Club Group spokeswoman. “Concerns regarding fluctuating crude oil prices, heightened tensions in the Middle East, and low demand have slowed prices at the pump.”

Local averages on Monday were $2.94 in Floyd County and Bartow County, $2.93 in Gordon County, and $2.96 in both Polk and Chattooga Counties.

Like a Reliable Old Stove, Gas Prices Slowly Heat Up

Since last Monday, the national average for a gallon of regular gasoline has increased by 4 cents to $3.14 (subject to change overnight). The upward trend is likely a combination of oil costs edging into the upper $70s per barrel and normal seasonal increases as winter eases and demand for gas creeps higher.

According to data from the Energy Information Administration (EIA), gas demand increased from 7.89 to 8.14 million barrels a day last week. Meanwhile, total domestic gasoline stocks rose by 1.1 million barrels to 254.1 million barrels. Minimal gas demand and fluctuating oil prices have contributed to increasing pump prices. If oil prices continue to face upward pressure, drivers may see pump prices rise.